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20100101
20100131
Search Results 0 to 6 of about 7 (some duplicates have been removed)
... as being aeally important world ty. drewarvis: washington, d.c., fe like a very safe commuty as we grew u we played outsiduntil dark. vich: to us, the president of the united states was the yor. the congre was the city council. everything, thought, in life was the yor. was controlled downtown at the government agencies and on capit hill. colbert king: we all sorof had a feeling that this was t the way it was always gointo be, that somehow it coulchange, but toward wha i can't say really knew. [frank satra singing high hes] john kennedy: preserveprotect and defe the constitution of the united ates. earl warren: so help you god kennedy:o help me god. narrator: for many t feeling change was on s way came from kennedy's elecon, and itpromise of a more integred and cosmopolitan cy. natra: ♪ ...just remembe that ant ♪ povich: i grew up in whington, and i knew thi- this was a town of southern whites ansouthern blacks. southern congrsmen, cause they had the tenure icongress, all their ite constituents uld get all these jobs washington, d.c., so there is huge influ and the was a huge influx
just struggle, and you keep praying that washington will pass something that's going to reach down and help me. and it never happens. >> bergman: in fact, in the us congress, there have been some who have argued for credit card reform for decades. >> the list of troubling practices the credit card companies are engaged in is lengthy, and it is disturbing. >> bergman: but passing legislation to rein in the industry proved to be impossible... >> consumers are trapped. >> bergman: ...because the banks are one of the most powerful lobbies on the hill. >> the industry got carried away, got arrogant, and they could never be beaten, so they could do whatever they wanted to. and it was always, when i counted noses, i didn't have the votes. >> bergman: senator richard shelby is the ranking republican on the banking committee. while he has never been known as an advocate for credit card reform, he has not always sided with the banks. why hasn't there been credit card legislation to control some of these abusive practices? why did it take a near depression to do this? >> obviously, it's lobby
the usenate when the instry is pouring money into washington. 's a very difficult enviroent to have a reform bill passed. >> bergman: near every member of the senate banking commite has receivedarge contributions om the financial services iustry, including the airman of the mmittee, senator dodd. thfinancial services industry aprently has given as much as 0 million to the members of your committeever the last electionycle, $7 million to your camigns. >> mhmm. lot of gd it's done them, huh? ( ughs ) >> bergman: are you ying theye wasting their money giving you campaig contbutions? >> no, not necessarily i listen to people, but anody who thinks they can comen and make a campaign contbution and is going to get outcome based on thais certainly terriblyistaken. the need to reform credit ca practice has never been more importan.. >> bergman: dodd pnts to the fact that he introdud legiation to take on the credit carindustry earlier this year, adid his colleague in the housecongresswoman carolyn maloney. >> we can stop thesebusive practice had gotten to the point tha couldn't even go to the floo of
bill through thes senate when the dustry is pouring money into washington. it's very difficult environmento have a reform bill passed. >> bergman: nearly ery member ofhe senate banking committee has received lar contributions fromhe financial services indusy, including the chaian of the commtee, senator dodd. e financial services industr parently has given as much a $30 million to the members o your committ over the last electi cycle, $7 million to your cpaigns. >>m-hmm. lot ofood it's done them, huh? ( laug ) >> bergman: are you sayi they're sting their money giving you campan coributions? >> no, not necessari. i listen to people, but ybody who thinks they can co in and make a campaign coribution and is going to gean outcome based on tt is certainly terrib mistaken. the need to reform credit rd practice has never been mo importt... >> bergman: doddoints to the fact that he introced leslation to take on the credit cd industry earlier this year,s did his colleague in the hou, congresswoman carolyn maloney. >> we can stop the abusive practis. it had gotten to the point tt i could
Search Results 0 to 6 of about 7 (some duplicates have been removed)